Tag Archives: Spain

OJO! If you have not voted for more that 15 years and resident in Spain you lose your vote for ever!

James Preston, a Spanish resident and UK citizen,  has lost his appeal to allow British expats to vote after 15 years absence from the UK.

it is estimated that the ruling will disenfranchise upto 5 million British expats.

British expats continue to fight the 15 year voting rule

Ironically, this is occuring while the EU is trying to force the UK government to allow the prison population to have the vote.

It seems rather short sighted of the government to reject this generally conservative voting group.

The govenment argues that expats are out of touch with the UK. However, it our view that it is likely to have the reverse effect, making expats more proactive and  involved with British events and issues.

to sign the online petition to support this cause please go to:

 http://votes-for-expat-brits-blog.com/category/voting-rights/james-preston-case/

El Pais…”the green shoots of recovery” (!)

The Spanish newspaper, El Pais, has dared to use the cliche “the green shoots of recovery” to describe the Spanish Property Market.

This is always slightly worrying, as it usually sounds like a desperate politician, or an estate agent, bigging up the state of the market  and pretending there are no more inherent problems.

They argue that Spain offers, sun, beaches and cheap properties and today’s buyer is a cash buyer.

The agencies on the street are registering some activity, from Brits, Germans, Scandinavies and new nationalities, Belgians Russians and Algerians.

Institutional investors are waiting for “demolition prices”, that’s considered to be 70% off the book values, compared to 50%  discount seen today.

A couple of other interesting points include the fact that 350,000 properties changed hands last year in Spain, down from 750,000 in the peak of 2007, but still respectable.

Mallorca property is still popular with the Germans, and now holds some 11% of its total holiday property stock.

For the full article go here.

 

http://elpais.com/elpais/2012/11/19/inenglish/1353332039_804742.html

 

 

A funny story…..improper language use in Spain….

a memo release issued by a Spanish corporation regarding the improper use of swear words….

It’s been brought to our attention by several officials visiting our headquarters that the Spanish staff commonly uses offensive language. Such behaviour, in addition to violating our group’s policy, is highly unprofessional and offensive to both visitors and the staff itself.

Therefore it is requested to our Spanish staff to adhere immediately to the following rules:

1. Foreign colleagues or visitors should not be referred to as “ese guiri de mierda”.

2. Words like “coño”, “hostia”, and other such expressions will not be used for emphasis, no matter how heated the discussion is.

3. You will not say “la ha cagao” when someone makes a mistake, or “la está cagando” if you see somebody being reprimanded, or “¡qué cagada!” when major mistake has been made. All direct or derived forms of the verb “cagar” are inappropriate in our environment.

4. No Project Manager, Section Supervisor or Head of Administration Chief, will be referred to, under any circumstances, as “el hijo de la gran puta”, or “el muy cabrón” or even “el comemierda”.

5. Lack of determination will not be referred as to “falta de huevos” or “mariconería” nor will persons with a lack of initiative be ever referred to as “capullo” or “acojonado”.

6. Unusual and/or creative ideas shall not be referred to as “pajas mentales” in particular when they stem from your manager.

7. You will not say “cómo me jode” if a person is persistent, or “está jodido” or “se lo van a follar” if a colleague is going through a difficult situation. Furthermore, when matters become complicated the words “qué jodienda” should not be used.

8. When asking someone to leave you alone, you must not say “vete a tomar por culo”, nor should you ever substitute the most educated “may I help you?” with “¿que coño quieres ahora?”

9. If things get tough, an acceptable expression such as we are going through a difficult time should be used rather than “esto esta jodido” or “nos van a follar a todos”. Additionally, if you make a mistake, just say so and do not say “que putada” or any expressions composed with the root “puta”.

10. No salary increase shall ever be referred to as “subida de mierda”.

11. Last, but not least, after reading this note please do not say “me voy a limpiar el culo con ella” or “me la paso por el forro de los cojones”.

Just keep it clean and odorless and dispose of it properly.

B. regards
J.W. Adamson

Spain to offer residency to anyone who can buy as house for more than 160,000€

It says it all in the title. Mariano Rajoy is considering offer non-resident property buyers the chance to have citizenship if they can afford the purchase of a 130,000€ property.

Spain has about 700,000 unsold properties on the market and this appears to be a move to  help shift some of the housing stock and to get some high worth individuals onto the books and into Spain.  its also a move to try and lower the “bad debt” current considered to be at about 10% of total loans.

This a isn’t a first, in Ireland you can get residency with a 400,000€ purchase and in Portugal, 500,000€.

 

Property Works Mallorca 2012

Would having a nuclear power station nearby affect your decision to buy a property in Spain ?

The guardian has published an interesting map of nuclear power stations. It shows the power stations’ ages too.

http://www.guardian.co.uk/news/datablog/2011/mar/18/nuclear-reactors-power-stations-world-list-map

What is a nota simple?

 

 

 

A “nota simple” is a summary report from the Property Registry that describes the property in the deeds, known as the “Escritura”.

It should be noted that a nota simple is only informative and is not valid in front of a court. A registry certificate is needed for the courts.

Judicial information is brief, and usually covers outstanding debts (mortgages or unpaid taxes), the current owners, the boundaries, the total square meters of the land and of the house.

It also describes the type of land, any rights that others may have on the property, such as public paths/roads, water or sewage lines, etc.

 

 

 

The Bad Bank – coming to Spain soon.

The Spanish government is creating a “Bad Bank”, or “Banco Malo”, in which to put all the toxic property assets.

The idea is to progress from the current building crisis by drawing a line under the current woes in the construction sector.

Basically, the Government of Spain issues debt and buys from Spanish banks all their bad investments, which are accumulated in a “bad bank”.

Presumably, the acquisition takes place at a significant discount relative to the actual value, so that in the long-term, taxpayers could even win when the assets are re-sold.

At Property Works, we beleive that this measure, although not without its risks, could be of some help to help the Spanish economy overcome the deflation of its recent property bubble.

Time will tell…

 

 

 

Spanish & Balearic Property Market Statistics 2012

Balearic House Prices Second quarter  2012

According to the National institute of Statistics, house prices have fallen in the Balearics by 15% compared to the same period (second quarter) of 2011. This is based on the House Price Index published on 13th September 2012.

By type of property, new construction has fallen by 15% and second hand properties by 14.1%

The housing ministry has the number of transaction down by 17.59% on the same quarter last year.

According to Tinsa, the Spanish Valuation Company, in the Balearic Islands house prices dropped 6.8% year-on-year to June 2012.

 

Spanish House Prices second quarter 2012

The nation-wide fall in house prices compared to the same quarter last year is 14.4%.

This is the highest fall since 2007. It is also the 17th consecutive quarter showing a fall.

The number of transactions has fallen from 90,756  to 80,235 with a variation of 11.59%

“La Opción de Compra del Inmueble” or “Property Purchase Option Contract”

“Opción de Compra” or “Purchase Option”

This is a contract signed by both parties outlining the terms and conditions of the sale.

It should  describe:

  • the property to be sold including the building’s size and land size, neighbours, rights of way, easements, etc
  • its registry and deed number
  • its ratings number
  • the price
  • the vendor and purchaser’s name, id and addresses
  • the deposit amount
  • the date of completion
  • what will happen if the contract is broken
  • who will hold the deposit
  • the commission payable to the agent by the vendor
  • consider subject to survey clause.
Comments:
  • Do not confuse an  “opción” or option with a “señal” or deposit. A señal is a small deposit, perhaps 1,000€ to hold the property until contracts are drawn up.  It has no legal status and is usually done over a handshake.
  • These contracts are often provided by the agents and primarily represent their interests or the vendors interests.  Do not be afraid to suggest that your lawyer will want  to be provided with this document.
  • You will need independent and impartial legal advise on a purchase contract, so get a lawyer.
  • Ensure you have an English translation so you know what you a signing/buying.
  • The days of paying 10% deposits are gone . Try negotiating down to 5%. This is much more reasonable.
  • Do not expect to get your option deposit back easily without a fight if the money is held with the agent, vendor’s lawyer or vendor, so make sure the money is held by a trusted third party.  If it goes to court it can take years.
  • Do not sign an option until a minimum amount of due diligence is carried out. Most vendor’s can and should wait for you to check out some basic pre-purchase details.
  • Remember an unprofessional agent wants your signature as soon as possible in order to claim a commission.
  • Forget paying cash for the option, however much the agent or vendor likes it. This is an antiquated and unreasonable request.